Piramal Healthcare eyeing overseas acquisitions: Swati Piramal

Pharma major, Piramal Healthcare, is eyeing acquisitions overseas, a top company official said.

"Many global pharma companies are on our radar. We are looking for a cross-border acquisition. But we have not finalised anything so far,"  Piramal Healthcare director, Swati Piramal, told PTI here today on the sidelines of seminar.

According to her, the company would spend a part of the Rs1,000-crore it is planning to raise, on acquisitions and the possible target would be another pharma or healthcare company.        

"The Board will take the final decision. But what I can say at present is that it would be a pharma company or a healthcare company and we sare looking beyond India for the acquisition," she said, without disclosing further details.

Recently, Piramal Healthcare, in a filing to Sebi, said that its Board had approved raising up to Rs1,000 crore by issuing securities. The Board of Directors would take a final decision on pricing, mode and manner of raising the funds, the statement added.

Piramal Healthcare reported a 45% jump in its consolidated net profit at Rs 106.27 crore for the second quarter to September 30 compared to Rs73.39 crore in the year-ago period. Total income rose to Rs999.99 crore during the July-September period of the current fiscal, from Rs889.33 crore in the same quarter last year.